Page 3732 - Business Finance

Organizations worldwide turn to Oracle Cloud to fuel their modernization efforts

Companies and organizations around the globe are rapidly adopting Oracle Cloud solutions. Offering its customers a unique advantage, Oracle is the only provider to deliver a complete cloud portfolio, spanning Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS).Today, companies in 195 countries and territories are processing more than 55 billion transactions a day through the Oracle Cloud. Recent wins and expansions include: Alsea, Broadcom Inc., Exelon, Gonzaga University, Heineken Urban Polo, Providence St. Joseph Health, Sinclair Broadcast Group, and T-Mobile US Inc."Oracle Cloud is redefining how organizations modernize, innovate and compete," said Thomas Kurian, president, product development, Oracle. "Regardless of where organizations want to start their cloud journeys, Oracle delivers complete and integrated cloud services that deliver faster innovation and business transformation. The momentum and adoption we have seen over the past

KKalpana Industries (India) consolidated net profit rises 1160.71% in the March 2018 quarter

Sales decline 16.74% to Rs 462.50 crore

Apar Industries consolidated net profit declines 0.10% in the March 2018 quarter

Sales rise 35.34% to Rs 1767.50 crore

Greencrest Financial Services reports standalone net loss of Rs 1.92 crore in the March 2018 quarter

Sales rise 2431.40% to Rs 21.77 crore

Competent Automobiles standalone net profit declines 8.11% in the March 2018 quarter

Sales decline 8.74% to Rs 299.43 crore

Ceejay Finance standalone net profit declines 21.94% in the March 2018 quarter

Sales decline 6.96% to Rs 3.61 crore

Jagson Airlines reports standalone net loss of Rs 0.31 crore in the March 2018 quarter

Reported sales nil

Banswara Syntex standalone net profit declines 34.96% in the March 2018 quarter

Sales rise 5.50% to Rs 322.47 crore

Bajrang Finance reports standalone net profit of Rs 0.14 crore in the March 2018 quarter

Sales rise 16.67% to Rs 0.07 crore

Cambridge Technology Enterprises consolidated net profit rises 55.40% in the March 2018 quarter

Sales rise 14.09% to Rs 28.74 crore

Banking services paralysed on second day of strike in Bengal

Banking services across the state remained paralysed for the second and final day of the two-day strike today. The strike was called by United Forum of Bank Unions (UFBU), the umbrella body of seven trade unions, to press for higher wage revision for the employees. The Indian Banks Association (IBA), a body of the bank managements, offered a two per cent rise in wages which was rejected outright by the unions. The IBA negotiates with the unions on wage revision issues. "Only 10-15 per cent of the automated teller machines (ATMs), those installed in various institutions, were open," Siddhartha Khan, convenor of West Bengal chapter of UFBU said. He said that the strike has been successful and hoped that IBA would return to the negotiating table again. Not only the public sector banks, private sector and foreign ones also participated in the strike.

Freudenberg begins construction for new unit in TN

German technology group Freudenberg has commenced construction activities for its new production unit being set up at an investment of Rs 210 crore, a top official said here today. Freudenberg's India, a subsidiary of Freudenberg and Co. KG, Germany has recorded a 25 per cent rise in the sales to Rs 2,768 crore last year. "This rise is the result of continuous investments in existing and new projects. One example is new production facility in Chennai," Freudenberg Group, Regional Representative India, Georg Graf said. The company has seven business groups across the country employing about 2,688 people at 50 locations. "We are on track. Our new facility in Chennai is an important step - not only to grow, but also to underline our long-term commitment to local market," he told reporters. He said the upcoming plant in Chennai has cleared all legal hurdles and "construction work at the site started". "The total investment is around Euro 28 million or Rs 210 crore. These ...

EESL in talks with Telangana, MP, Rajasthan to supply EVs

State-run Energy Efficiency Services (EESL) is in talks with states like Telangana, Madhya Pradesh and Rajasthan among others for supplying electric vehicles (EV), a senior company official said. EESL, a joint venture company of government-owned four power sector companies including NTPC, Power Finance Corporation, Rural Electrification Corporation and Power Grid, has so far signed agreements with states like Maharashtra, Andhra Pradesh and Gujarat to supply EVs for government use. "We are in talks with various states including Telangana, which will be soon launching its EV policy, Madhya Pradesh and Rajasthan among others," EESL managing director Saurabh Kumar told reporters here today. He said nearly 200 EVs are already operating in Delhi NCR and soon another 150 will be added to the fleet and another 100 have been delivered in Andhra Pradesh. While Andhra Pradesh has signed an agreement to procure 10,000 EVs, EESL will be supplying 8,000 vehicles to Gujarat and 1,000 .

Maruti aims to sell over 2 lakh units with AGS tech this fiscal

Maruti Suzuki India (MSI) today said it aims to sell over 2 lakh units with auto gear shift (AGS) technology in the current fiscal. The company, which introduced the first model with AGS technology five years ago, has already crossed three lakh cumulative sales mark for such vehicles in the country. "Crossing 3-lakh retail sales mark within five years of its introduction is a reflection of the success and consent of the customers for the two-pedal technology," MSI Senior Executive Director (Marketing and Sales) R S Kalsi said in a statement. "With enhanced awareness and deeper penetration, we aim to sell over 2 lakh cars with AGS in 2018-19," he added. Currently, MSI offers seven models with AGS -- Alto K10, WagonR, Celerio, Swift, Ignis and Dzire. Earlier this month, MSI also introduced its compact SUV Vitara Brezza with AGS technology. MSI said AGS variant contribution to its total sales has tripled since 2014-15. "As a pioneer brand in automotive innovation, Maruti Suzuki has ...

E-commerce policy: First meeting of subgroups expected by June-end

Nine subgroups formed to work on the contours of policy for the fast growing e-commerce sector are expected to hold their first meeting by June-end, an official said today. These groups will submit their recommendations to a task force, which would finalise the national policy on e-commerce. The task force then give its report to a think-tank, headed by the commerce and industry minister. The first meeting of these subgroups is likely to held between June 20-22 here, the official said. These groups will look at issues, including foreign direct investment norms; skills, education and training; data protection and location of computing facilities; cross border transfer of information by electronic means; digital products, customs duties and taxation; trade facilitation measures; measures enhancing consumer confidence; protection of intellectual property and innovation; and payment system for electronic transactions. The think-tank in its meeting on April 24 had decided to set up a task .

Maruti Suzuki's acclaimed Auto Gear Shift tech achieves new milestone

Crosses 3 lakh sales

Sensex, Nifty rise over 1 percent to 2-week closing high ahead of GDP data

(Reuters) - Indian shares rose more than 1 percent on Thursday and posted their highest close in two weeks, with financials such as HDFC Bank Ltd accounting for about two-thirds of the gains, ahead of key economic growth data later in the day.

Temasek, PayPal pick up minority stakes in Pine Labs for $125 mn

Digital retail payments platform Pine Labs today said Temasek and PayPal Holdings Inc have acquired minority stakes in the company for a combined USD 125 million (about Rs 843 crore). In March, Pine Labs had said it has raised USD 82 million from private equity fund Actis and California-based investment company Altimeter Capital. "We are teaming up with Temasek and PayPal at a time when the Indian payments market is at an inflection point. We are a leader in the offline payments space, a position that is critical in enabling the ecosystem of online payment products," Pine Labs founder Lokvir Kapoor said in a statement. Pine Labs said Singapore-based Temasek, with its deep network in many Asian markets and extensive knowledge of financial services companies, is a great partner for the company as it ramps up its regional expansion. Also, PayPal's global presence and strong product expertise make it an invaluable ally, the statement said. While the company did not specify details of the .

Expectations of higher GDP growth lift equity indices

The key Indian equity indices surged over one per cent on Thursday over expectations of a higher gross domestic product (GDP) growth rate and predictions of a normal southwest monsoon.

Board of United Nilgiri Tea Estates Company recommends final dividend

Of Rs 1.7 per share